Andrei G. Stoica - Jul 3, 2023 Form 4 Insider Report for Butterfly Network, Inc. (BFLY)

Role
Chief Technology Officer
Signature
/s / Lawrence T. Weiss, Attorney-in-Fact for Andrei G. Stoica
Stock symbol
BFLY
Transactions as of
Jul 3, 2023
Transactions value $
-$103,786
Form type
4
Date filed
7/6/2023, 05:40 PM
Previous filing
Jun 27, 2023
Next filing
Sep 8, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % Price $ Shares After Date Ownership Footnotes
transaction BFLY Class A Common Stock Sale -$3.94 K -1.69 K -0.16% $2.34 1.09 M Jul 3, 2023 Direct F1, F2
transaction BFLY Class A Common Stock Sale -$99.8 K -45.6 K -4.2% $2.19 1.04 M Jul 5, 2023 Direct F1, F3

Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.

Transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

Explanation of Responses:

Id Content
F1 The Issuer has adopted a "sell-to-cover" policy to satisfy the tax withholding obligations of the Reporting Person. The sales reported on this Form 4 represent the number of shares required to be sold by the Reporting Person to cover tax withholding obligations in connection with the vesting of restricted stock units. Such sales were automatic and intended to qualify under Rule 10b5-1.
F2 Represents the weighted average sales price per share. The shares sold at prices ranging from $2.32 to $2.355 per share. Full information regarding the number of shares sold at each price shall be provided upon request to the staff of the U.S. Securities and Exchange Commission, the Issuer, or a security holder of the Issuer.
F3 Represents the weighted average sales price per share. The shares sold at prices ranging from $2.15 to $2.315 per share. Full information regarding the number of shares sold at each price shall be provided upon request to the staff of the U.S. Securities and Exchange Commission, the Issuer, or a security holder of the Issuer.